This is a paid post presented by FinanceScout24
It has long been common practice with health insurers or mobile phone subscriptions. Switching to another provider, as this one provides exactly the same service at a lower price. But the Swiss could also save a lot of money on mortgages if they compared. “Many don’t know that or just stay where they are for the sake of convenience,” says Fabio Meier, Mortgage Team Leader at FinanceScout24.
The savings potential is often considerable. “If you compare and switch, you can quickly save a few thousand francs,” says Meier. “With a mortgage of one million, for example, it could be around 10,000 francs over ten years.” A huge amount of money, which many just lose because of the fear of paperwork or a lack of knowledge.
Little effort, a lot of profit
Who likes to take the time to rummage through various offers in banking language? The fewest. But it is no longer necessary. FinanceScout24 offers a free Mortgage calculator at. “Simply enter the purchase price, own funds and annual income and you will find out how things are going with the loan and affordability,” says Meier. The monthly mortgage cost cannot exceed 33 percent of household income. If it is unsustainable, you can reduce the interest you have to pay by bringing in more equity – possibly with help from the family – and taking out a smaller mortgage.
The online mortgage comparison
Whether you want to take out a new mortgage or replace an existing one: FinanceScout24 compares offers from over 50 providers and provides you with the best options for your needs in just three minutes. For free. The FinanceScout24 experts accompany you from the application to the handover. On request, also by phone, chat or video call.
Whether you want to take out a new mortgage or replace an existing one: FinanceScout24 compares offers from over 50 providers and provides you with the best options for your needs in just three minutes. For free. The FinanceScout24 experts accompany you from the application to the handover. On request, also by phone, chat or video call.
In the next step, homeowners can calculate the savings potential. Let’s say Hans Muster’s mortgage is one million with a ten-year fixed-rate mortgage. The own funds amount to CHF 400,000 and the annual income is CHF 125,000. The possible savings potential in ten years is 40,000 francs.
Hans Muster could save CHF 4,000 a year if he switched. If he decides to submit an application, this will be done by experts from FinanceScout24 comprehensively checked. “We work out the best offer with the customer and take care of all the paperwork,” says Meier. Incidentally, this service is free of charge.
Is it possible to terminate the mortgage early?
In principle, mortgages can only be redeemed by another provider when the contract or the term expires. Anyone who changes before must pay a prepayment penalty. “With fixed-rate mortgages, that can be expensive,” says Meier. In most cases, however, switching to a new provider is free of charge.
expert
Fabio Meier is a mortgage expert at FinanceScout24. From his practice, he knows what hurdles might arise on the way to buying your own home or even if the mortgage is redeemed.
Fabio Meier is a mortgage expert at FinanceScout24. From his practice, he knows what hurdles might arise on the way to buying your own home or even if the mortgage is redeemed.
Basically, you should think about it twelve to eight months in advance and look around. “Anyone who is afraid of rising interest rates can fix their mortgage months before switching to a new bank or insurance company and thus benefit from today’s conditions,” explains Meier.
How does a man or woman proceed if the dream home does not yet exist? “We also help with the search for the right property and clarify whether the house is worth its price,” says Fabio Meier von FinanceScout24. “We also support future homeowners with a financing confirmation, with which a property can usually be viewed in the first place.”
THE GOLDEN HYPO RULES
The right term
Plan the life of the mortgage based on what you intend to do with the property in the next few years. If you are not sure whether you will still be living in the property in five years’ time, then you should choose the term accordingly or fall back on an institution that waives the early repayment penalty. This saves you high exit costs if you terminate the mortgage contract prematurely.
The right slicing
Many homeowners who want to redeem a mortgage have a big problem: at some point they have concluded many different tranches with different terms and are now tied to the bank. Therefore, never allow yourself to be seduced into unnecessary tranches due to alleged interest rate risks. Wherever possible, you should only choose one or a maximum of two tranches for the entire mortgage with a difference in terms of a maximum of two years. In this way, you remain independent and can look out for a new provider two years before the end of the term at the earliest. If you want to amortize part of your mortgage in less time than the term of the fixed-rate mortgage, a Saron mortgage or a fixed-rate mortgage with a term that corresponds to the period of the amortization is best suited in combination with the fixed-rate mortgage.
The right price
Make sure that the price for the property is good and consistent. Therefore, never pay more for a property than what you will get back in five years when you sell it again. Get a second opinion from an independent partner so that you can get the optimal lending value for your property.
The right financing partner
Do not just ask your house bank for financing, but get an independent broker such as FinanceScout24 on board, who will also support you in obtaining relevant documents. Avoid submitting your dossier to countless banks and insurance companies yourself, it will only make you a lot of work and block the request via an intermediary who will certainly offer you significantly better conditions than you get from the banks yourself. Why it is like that? Brokers like FinanceScout24 are always looking for the ideal solution on the market for the specific financing situation. They work like a wholesaler: They are an agile, direct sales channel for the banks, which makes work easier for the banks in many ways thanks to the volume of inquiries and the lean, digitally supported application processes. In addition, an intermediary for a bank or insurance company brings numerous new customers over the course of a year that the bank would otherwise not get. In this way, you also save marketing and sales costs and reward the customers of the agents with top conditions that the customer never receives directly from the bank. The broker then receives a commission for his work – in contrast to some other providers, however, FinanceScout24 does not incur any costs for the customer when arranging mortgages. And: At FinanceScout24 you will receive a bank-independent financing confirmation online, quickly and conveniently, which you can present for the viewing of your desired property.
The right timing
Do not let your previous provider rush you into making a decision on an interest rate too quickly. An independent, thoughtful financial partner will inform you transparently about the structure and development of the current interest rates and accompany you at the right time to fix the interest rates.
The right term
Plan the life of the mortgage based on what you intend to do with the property in the next few years. If you are not sure whether you will still be living in the property in five years’ time, then you should choose the term accordingly or fall back on an institution that waives the early repayment penalty. This saves you high exit costs if you terminate the mortgage contract prematurely.
The right slicing
Many homeowners who want to redeem a mortgage have a big problem: at some point they have concluded many different tranches with different terms and are now tied to the bank. Therefore, never allow yourself to be seduced into unnecessary tranches due to alleged interest rate risks. Wherever possible, you should only choose one or a maximum of two tranches for the entire mortgage with a difference in terms of a maximum of two years. In this way, you remain independent and can look out for a new provider two years before the end of the term at the earliest. If you want to amortize part of your mortgage in less time than the term of the fixed-rate mortgage, a Saron mortgage or a fixed-rate mortgage with a term that corresponds to the period of the amortization is best suited in combination with the fixed-rate mortgage.
The right price
Make sure that the price for the property is good and consistent. Therefore, never pay more for a property than what you will get back in five years when you sell it again. Get a second opinion from an independent partner so that you can get the optimal lending value for your property.
The right financing partner
Do not just ask your house bank for financing, but get an independent broker such as FinanceScout24 on board, who will also support you in obtaining relevant documents. Avoid submitting your dossier to countless banks and insurance companies yourself, it will only make you a lot of work and block the request via an intermediary who will certainly offer you significantly better conditions than you get from the banks yourself. Why it is like that? Brokers like FinanceScout24 are always looking for the ideal solution on the market for the specific financing situation. They work like a wholesaler: They are an agile, direct sales channel for the banks, which makes work easier for the banks in many ways thanks to the volume of inquiries and the lean, digitally supported application processes. In addition, an intermediary for a bank or insurance company brings numerous new customers over the course of a year that the bank would otherwise not get. In this way, you also save marketing and sales costs and reward the customers of the agents with top conditions that the customer never receives directly from the bank. The broker then receives a commission for his work – in contrast to some other providers, FinanceScout24 does not incur any costs for the customer in arranging mortgages. And: At FinanceScout24 you will receive a bank-independent financing confirmation online, quickly and conveniently, which you can present for the viewing of your desired property.
The right timing
Do not let your previous provider rush you into a decision on an interest rate too quickly. An independent, thinking financial partner will inform you transparently about the structure and development of the current interest rates and accompany you at the right time to fix the interest rates.
Presented by a partner
This post was dated Ringier Brand Studio created on behalf of a customer. The content is journalistically prepared and meets Ringier’s quality requirements.
Contact: Email Brand Studio
This post was dated Ringier Brand Studio created on behalf of a customer. The content is journalistically prepared and meets Ringier’s quality requirements.
Contact: Email Brand Studio